A standout on Nebraska's 1970 and 1971 national championship teams, Larry Jacobson became Nebraska's first major award winner, capturing the Outland Trophy following his senior season. Jacobson became the first of seven Huskers to win eight Outland trophies, symbolic of the nation's top interior lineman.

Jacobson's No. 75 was retired along with Trev Alberts' No. 34 and Will Shield's No. 75 at the 1994 Spring Game, marking the only time in school history that three jerseys were retired at the same time.

As a senior, Jacobson recorded 73 tackles , including 28 solos, and added 12 tackles for 73 yards lost and an interception en route to earning All-Big Eight and All-America honors. One of two All-Americans (along with Rich Glover) on the Husker defensive line in 1971, Jacobson helped the Blackshirts to top-five national rankings in rush defense (85.9, second), total defense (202.9, fifth) and scoring defense (8.2, third) en route to a 13-0 record and a second straight national title. He also was lauded for his efforts in the classroom, earning CoSIDA Academic All-America honors following his senior campaign.

Jacobson broke onto the national scene during his junior season, helping the Huskers to their first national title. The 6-foot-6 inch, 250-pound, Sioux Falls, S.D., native finished with 49 tackles, including 33 solos, nine tackles for 61 yards lost and a team-best three fumble recoveries.

One of three Huskers selected in the first round of the 1972 NFL Draft, Jacobson was a first-round selection (No. 24 overall) by the New York Giants. He played with the Giants for four seasons before retiring following the 1975 campaign. Jacobson now resides in South Bend.

In December of 2012, Jacobson received the Bronko Nagurski Legends Award, which recognizes outstanding college players from the past 40 years.